Gold At All-Time Highs

Good Tuesday Morning, MPTraders! March 18, 2025-- Pre-Market Update: Today is the first day of a two-day FOMC meeting... Tonight at 7 PM ET, NVDA CEO Jensen Huang gives his keynote speech to kick off the GTC Developers Conference... 

Otherwise, more war to achieve peace appears to be the order of the day for this young Administration in Gaza, Yemen, and Ukraine... Add in continuing geopolitical tensions about ongoing tariff uncertainty ahead of the Administration's April 2nd deadline for the imposition of reciprocal import-export "taxes," as well as concerns about Government spending vs. forthcoming austerity measures, fiscal deficits, sovereign debt reduction, and the prospect of an unavoidable financial crisis if the status quo ante prevails, and presto, what we have is a prescription for relentlessly rising Gold prices that hit another new ATH in this AM's pre-market trading (See my GLD chart below)...

GLD is trading at a new ATH circling 279.40/50, up nearly 1% from yest's close at 276.73, poised for upside continuation to my next higher technical target zone of 285 to 289, en route to 3000. Only a sharp downside reversal that closes beneath 270.70 will damage the most recent upleg from the 238.73 low on 12/19/24 from where GLD has climbed 17% in just the past three months... 

Up Next:  ES and NVDA...